Latest news with #FirstMillingCo.
Arab News
13-03-2025
- Business
- Arab News
Closing Bell: Saudi main index closes in green at 11,725
RIYADH: Saudi Arabia's Tadawul All Share Index gained 20.95 points, or 0.18 percent, closing at 11,725.88 on Thursday. The total trading volume for the benchmark index reached SR6.20 billion ($1.65 billion), with 141 stocks advancing and 94 declining. The MSCI Tadawul Index also saw an increase, rising by 2.36 points, or 0.16 percent, to close at 1,479.27. In contrast, the Kingdom's parallel market, Nomu, slipped by 37.56 points, or 0.12 percent, closing at 31,135.85. This decline came as 54 stocks rose, while 29 saw a decrease. The top-performing stock of the day was Rasan Information Technology Co., which saw its share price surge by 9.87 percent to SR79. Other strong performers included Saudi Chemical Co., whose share price climbed by 5.89 percent to SR8.45, and Saudi Research and Media Group, which gained 5.66 percent, reaching SR175.60. On the other hand, Nice One Beauty Digital Marketing Co. was the worst performer, with its share price dropping by 4.99 percent to SR40.90. National Shipping Co. of Saudi Arabia and Alandalus Property Co. also faced declines, with their shares falling by 4.29 percent and 3.55 percent, respectively, to SR29 and SR23.90. On the announcements front, First Milling Co. reported a net profit of SR250.9 million for 2024, marking a 13.9 percent increase compared to the previous year. The company attributed this growth to higher sales, improved product mixes and pricing, as well as the introduction of new products. Additionally, continued growth in small-pack goods, which offer higher profit margins, alongside efficiency improvements, cost leadership, and enhanced cash management, contributed to the rise, with increased interest income from Shariah-compliant Murabaha deposits. Despite the positive results, First Milling Co.'s share price remained unchanged at SR60.90 during today's trading. Umm Al-Qura Cement Co. also reported impressive results, with a net profit of SR47.7 million for 2024, a staggering 1,107 percent increase from the previous year's SR3.9 million. This growth was driven by higher sales volumes and values, as well as reductions in administrative expenses, financing costs, and zakat. Despite the strong performance, the company's shares fell by 1.98 percent, closing at SR18.78. Lastly, ADES Holding Co. announced that it had received a Shariah Evaluation Report confirming its compliance with Islamic guidelines for the year ending Dec. 31. The report, issued by the Shariyah Review Bureau, affirmed that the company's activities aligned with Shariah standards. ADES Holding's shares closed 0.74 percent lower on the main market at SR16.10.
Arab News
18-02-2025
- Business
- Arab News
Closing Bell: Saudi main index closes in green at 12,334
RIYADH: Saudi Arabia's Tadawul All Share Index rebounded on Tuesday, as it gained 67.21 points, or 0.55 percent, to close at 12,333.67. The total trading turnover of the benchmark index was SR5.78 billion ($1.54 billion), with 105 stocks advancing and 128 retracting. Saudi Arabia's parallel market Nomu, however, shed 265.24 points to close at 31,379.57. The MSCI Tadawul Index gained 13.95 points to 1,535.59. The best-performing stock on the main market was Al Hassan Ghazi Ibrahim Shaker Co. The firm's share price increased by 5.80 percent to SR31. The share price of Nice One Beauty Digital Marketing Co. also rose by 5.23 percent to SR68.40. Mobile Telecommunication Co. Saudi Arabia, also known as Zain KSA, witnessed its share price increasing by 5.06 percent to SR10.80. Conversely, Anaam International Holding Group's share price dropped by 5.11 percent to SR23.42. On the announcements front, First Milling Co. said that its net profit for 2024 reached SR250.9 million, representing a rise of 13.94 percent compared to the same period in 2023. According to a Tadawul statement, the company's revenue increased by 8.77 percent year on year to SR1.04 billion in 2024. First Milling Co. added that its net profit for the fourth quarter of 2024 stood at SR66.4 million, marking a 15.47 percent compared to the same period in 2023. Compared to the third quarter, the company's net profit increased by 8.31 percent in the final three months of 2024. The share price of First Milling Co. edged up by 1.46 percent to SR62.40.
